US: Target axes 150 jobs in restructure
General merchandise retailer Target Corporation has laid off around 150 employees as part of a restructuring of roles and responsibilities at the business.
"As an organisation, we continually assess our operating model, including roles and processes, to ensure we are well-positioned for how our business needs to evolve," Target said in a statement sent to just-style.
"On Wednesday (9 October) we announced changes in a few areas in support of our objective to continue to grow our business profitably while we meet the needs of today's consumers."
These changes, the company said, resulted in shifts in roles and responsibilities in some areas, and the elimination of 150 team member positions.
The retailer declined to say which departments or business functions were impacted.
"While making these kinds of changes is never easy, we are committed to advancing our multichannel capabilities and transforming Target to be competitive well into the future," the statement added.
In August, Target reported a double-digit second-quarter profit dip to US$611m, due to softer than expected sales in the US and start-up costs in Canada.
The company now expects its full-year adjusted earnings per share to be at the lower end of its previous forecast of $4.70-4.90.
A costly data breach incurred a US$17m expense for retail giant Target Corporation in the fourth quarter, but also impacted consumer confidence and traffic....
General merchandise retailer Target Corporation is to continue its expansion in Canada by opening another nine stores this year....
- Cotton supply chain transparency an ongoing issue
- Supply chain takeaways from Sourcing at MAGIC
- No simple way to be sustainable, says SAC CEO
- Why voters don’t want more global supply chains
- What's 3D-printing doing for apparel and footwear?
- Li & Fung eyes supply chain speed in 3-year plan
- Nike and Crystal Group "doing well by doing good"
- What does supply chain mapping really mean?
- US Q2 in brief - Sears, Burlington, Tilly's
- C&A helps grow organic cotton production in China
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras